To ask how long to have job for mortgage

[Wheresmycustard]

Sorry posting here for traffic.
I'm currently a sahp to a 1yr and soon due dc2. Dh and I rent our home and really keen to buy. Had a nosey online to get idea of house prices etc and used a few banks online to give quotes on what we could borrow and was rather surprised how little this is, dh earns a decent wage. I then got quotes on me earning a tiny amount as I could work 1-2days a week and the amount more than doubled.. I guess have two on the mortgage is massively favoured.

So in order to buy a decent house big enough for the family I will need to get a small part time job. I will do this most probably end of year/beginning of next year once I've had my time with newborn. I'd like have a rough idea of timescales etc so...

How long do I need to be employed for until I will considered for a joint mortgage?
Also as its an option for me how long can I be self-employed before being considered?

TIA

I know that for self employed it’s usually 3 years. You have to show the business has staying power.

It's 6 months in an employed role, and it would take 2-3 years if self-employed. However if you had to pay for childcare then the cost of that would be taken off the amount of money a lot of mortgage providers would lend you. So you may not be better off working part-time unless you had free childcare.

Oh and mortgage lenders now want to see about 3 months worth of your bank statements. So you need to cut down on any discretionary spending for about 6 months.

Thanks all, my aim is to be mortgage ready when I start work, ie deposit in the bank, bank statements looking good etc then work around dhs shifts. Otherwise I'd spend more on childcare then I'd earn. Hopefully once I've been in work at least 6months I can start looking at mortgages properly and it won't be too long.

You can get a mortgage immediately as long as you have proof of contract. I know this because I'm in a similar situation, we applied a few weeks after I'd started the job and it was approved after sending the contract. This was with Nationwide.

My husband got a mortgage immediately after starting with a proof of contract too. With Halifax

Sorry to butt in..
...

DP maybe getting a new job toward the end of the year and were looking to get a mortgage next year.
How long do you have to be in a job before applying?

6-months. I know people who have lost a mortgage offer (and therefore the house they wanted) as they changed jobs part way through the process

Great to know. My dh will be the main earner so hopefully it won't be an issue since my income wont be much.

Depends on the lender, 6 months is relatively standard for employment.